1315 Union Street, Indianapolis, IN 46225
MULTI_FAMILY - Other - Indianapolis, IN
- Added:
- Jan 9, 2026
- Days on Market:
- 156
- Last Refresh:
- Jun 14 at 12:06 am
Property Features for 1315 Union Street
General Information
- Property type
- Residential Multi Family
- Property subtype
- Other
- Rooms
- Basement
- Standard status
- Active
- APN
- 491113146097000101
- Lot size
- 0.11 Acres
Taxes and HOA fees
- Tax Year
- 2024
- Tax Description
- Mc Cartys South Add L78
Utilities
- Cooling system
- Central Air
Building Details
- Year built
- 1917
- Floors in Building
- 2
- Number of units
- 2
- Architectural style
- Other
Listing agent Olga Bliuc-Haggard License #RB18002164 (317) 332-7547
Listing office New Quantum Realty Group E Washington St 5610, INDIANAPOLIS, IN (317) 210-2770
Listing date Jan 9, 2026
Copyright © 2026 MIBOR Service Corporation. All rights reserved. All information provided by the listing agent/broker is deemed reliable but is not guaranteed and should be independently verified.
HighLights
- Fully remodeled duplex with 2 spacious units, each featuring 3 bedrooms and 2.5 bathrooms
- Each unit offers 1,650 sq ft of living space with modern finishes and updated layouts
- Currently generating $2,700/month in combined rent
- Central air conditioning
- Built in 1917
- Basement included
Overview
The duplex is located at 1315 Union Street in Indianapolis, Indiana (46225), in Marion County. The listing notes the property is near downtown Indianapolis.
With two separate units, the property provides a straightforward setup for an investor seeking an income-producing asset. The current combined rent is listed at $2,700 per month, and the property is presented as turnkey based on the recent remodeling and system updates. For buyers or operators who want a duplex with consistent unit configuration—each side with three bedrooms and 2.5 baths—this layout may align well with a range of household needs.
Local Financial Insights For Multifamily LT 5
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $53.5k | $16.20 |
| − Vacancy | −$3.7k | −$1.12 |
| EGI | $49.8k | $15.08 |
| − OpEx | −$14.9k | −$4.52 |
| NOI | $34.8k | $10.55 |
Alternative Uses
Current Use by Public Records
Location Insight
- Map
- Local Demand
- City
- Indianapolis
- County
- Hamilton
- State
- Indiana
- Longitude
- -86.157256
- Latitude
- 39.749928